Seven Mile Advisory Increases Position in Visa Inc. (NYSE:V)

Seven Mile Advisory increased its stake in Visa Inc. (NYSE:V) by 2.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,867 shares of the credit-card processor’s stock after purchasing an additional 136 shares during the quarter. Visa accounts for 1.1% of Seven Mile Advisory’s investment portfolio, making the stock its 16th largest position. Seven Mile Advisory’s holdings in Visa were worth $1,706,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Corient IA LLC purchased a new position in shares of Visa in the 1st quarter valued at about $263,000. Ethos Financial Group LLC grew its stake in Visa by 45.2% in the 1st quarter. Ethos Financial Group LLC now owns 7,185 shares of the credit-card processor’s stock valued at $2,350,000 after acquiring an additional 2,236 shares during the last quarter. LeConte Wealth Management LLC acquired a new stake in Visa in the 1st quarter valued at about $342,000. Northwest & Ethical Investments L.P. grew its stake in Visa by 9.2% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 123,802 shares of the credit-card processor’s stock valued at $43,388,000 after acquiring an additional 10,459 shares during the last quarter. Finally, Forvis Mazars Wealth Advisors LLC grew its stake in Visa by 8.2% in the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 10,042 shares of the credit-card processor’s stock valued at $3,519,000 after acquiring an additional 763 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the topic of several analyst reports. Jefferies Financial Group raised their price target on shares of Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a research note on Tuesday, May 27th. Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Truist Financial decreased their price target on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Piper Sandler raised their price target on shares of Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. Finally, Macquarie raised their target price on shares of Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $380.84.

Visa Stock Down 0.3%

V stock opened at $344.44 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 1-year low of $265.23 and a 1-year high of $375.51. The firm has a fifty day moving average price of $350.17 and a two-hundred day moving average price of $347.41. The firm has a market cap of $631.29 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 2.29 and a beta of 0.94.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.85 by $0.13. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.42 earnings per share. Research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, August 12th. Visa’s dividend payout ratio is currently 23.05%.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 46,214 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the sale, the insider directly owned 26,413 shares in the company, valued at approximately $9,772,810. The trade was a 63.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the business’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,100 shares of company stock valued at $27,643,224 in the last quarter. 0.13% of the stock is currently owned by insiders.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.